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Tax Schedules

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Schedule 3: Employment, etc.

Schedule 3: Employment, etc captures the income and expenses incurred by individuals who earn more than N$ 50,000 per annum from an employer. Total salary or wages earned; Total commission earned;  The tax value of the following

Schedule 4: Pension & Provident Funds on dismissal, resignation or retrenchment from employment

Schedule 4 captures income and expenses incurred from a refund received from a pension and/or provident fund on dismissal, resignation or retrenchment from employment, cessation of fund or withdrawal from a preservation fund. Total refund amount re

Schedule 6: Interest derived from Namibian sources other than a Namibian Banking institution or a unit trust scheme

Schedule 6 captures the interest derived from Namibian sources, other than a Namibian Banking Institution or a Unit Trust Scheme. Interest derived from Namibian sources, other than a Namibian Banking Institute or a unit trust scheme. Expenses i.

Schedule 7: Interest & deemed interest derived from foreign sources

Schedule 7 capture interest and derived interest from foreign sources. Interest - Building Societies; Interest - Banks; Interest - Other sources Expenses i.r.o. Interest income

Schedule 8: Namibian Building Society Dividends

Schedule 8 captures the dividends a taxpayer received from a Namibian Building Society. Building Societies dividends on Ordinary Indefinite Period Shares; Building Society dividends on Fixed Period Shares. Expenses i.r.o. Dividends received

Schedule 9: Rental

Schedule 9 captures the income received and expenses incurred from property rentals. Gross rental received and/or accrued; Leasehold improvements in terms of a lease agreement (income) Approved soil conservation works; Insurance; Interest on

Schedule 10: Income of minor children

Schedule 10 captures the income of a minor child received. Interest; Other Please attach bank and building society certificates reflecting details of interest and dividends received.   Please supply a list reflecting names and addres

Schedule 11: Pension, provident, preservation funds

Schedule 11 captures the annuities received from pension, provident and/or preservation funds. Namibian portion of the totals received from a: Provident Fund; Pension Fund; and/or Preservation Fund. Please attach certificates issues

Schedule 12: Endowment Policies, purchased and retirement annuities

Schedule 12 captures the revenue received from endowment policies, purchased annuities and retirement annuities. Gain i.r.o. A single premium endowment policy or any other policy of a similar nature entered into on or after 1 March 1987; Taxable p

Schedule 13: Other revenue not reflected elsewhere

Schedule 13 captures income and expenses not reflected in another schedule Royalties received; “Know-how” payments received; Taxable portion of Lump Sum received from Provident or Provident Preservation Fund due to ill-health,

Schedule 14: Trade (excl. partnerships)

Schedule 14 captures all income and expenses derived from trade, excluding partnerships. Opening Stock Construction Work in Progress (Previous year) Purchases Contract Costs Trading Income Sales Other Trading Income Recoupment Income (c

Schedule 15: Farming (excl. partnerships)

Schedule 15 captures all income and expenses derived from farming activities, excluding partnerships. Livestock, game & produce sold or given in exchange; Livestock, game & produce donated; Livestock, game & produce remove

Schedule 16: Summary of losses / taxable income

Schedule 16 aims to facilitate the tax payer in calculating their total taxable income. This schedule aims to summaries the information captured from the following schedules: Employment Interest from Namibian Source other than a Namibian Banking

Schedule 17: Calculation of Tax payable

Schedule 17 facilitates the tax payer when calculating their annual tax due. No tax is payable where the taxable amount does not exceed N$ 50,000. In such an event the taxpayer is not liable to pay income tax.  TAXABLE AMOU

Schedule 18: Statement of assets & liabilities

Schedule 18 is required in the event you accured any assets or liabilities during the current assessment year. Assets and Liabilities are grouped into the following: Business / Farming (as per financial statement); Private - Namibian and Foreign;

Schedule 19: Motor vehicle expenses

This section outlines Schedule 19 and Schedule 19 A. Schedule 19 captures all information pertaining to company vehicles. Vehicle Details The following information about each vehicle, being utilised, needs to be furnished: Vehicle Information

Schedule 20: Namibian income not subject to taxation

Schedule 20 is required in the event that you received Namibian income not subject to taxation. Receipts and accruals of a capital nature; Dividends on Spec Tax-free Indef Period (Namibian) Building Society Shares; Dividends on Subscription (Nami

Schedule 21: Dividends

Schedule 21 captures the dividends received not subject to taxation. Dividends received from Namibian sources; Dividends received from foreign sources (exc. Building Societies); Distribution from a Close Corporation Expenses i.r.o dividend incom

Schedule 22: Foreign losses / net Income

Schedule 22 captures any foreign losses / net income, not subject to taxation. Commissions received; Other income. Enter the difference between the total of the expenses column and the income column in the previous line, on this line in the: E

Schedule 23: Additional information which must be furnished

Schedule 23 captures additional information about loans and advances not in the ordinary course of business or at rates of interest below normal commercial rates. Nature of loans; Rates of interest, if any, chargeable; Repayment terms; Amount of

Schedule 24: Employers Housing & Vehicles

In the event that you make use of a company vehicle or housing, the following additional information is required:   You are required to answer the following questions: Are you the owner of the house you are residing in? Name and address

Schedule 25: Livestock and Produce

Schedule 25 requires that you identify the Livestock on hand at the begining of the year of assessment as well as livestock purchased / aquisitions / sales / disposals and mortalities during the year of assessment. Below is a list of the livestock th